Warren Buffett Invests $5 Billion In Bank Of America; Stock Soars

NPR | By Mark Memmott

Published August 25, 2011 at 9:40 AM EDT

Shares in Bank of America jumped nearly 25 percent in"premarket trading" this morning after it was reported that billionaire investment guru Warren Buffett is buying a $5 billion stake in the company, The Wall Street Journal's MarketBeat blog writes.

The Charlotte Observer adds that Buffett is "stepping in to shore up the company in the same way he helped prop up Goldman Sachs during the financial crisis."

Mark Memmott

Mark Memmott is NPR's supervising senior editor for Standards & Practices. In that role, he's a resource for NPR's journalists – helping them raise the right questions as they do their work and uphold the organization's standards.

See stories by Mark Memmott

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